It's time for my monthly check in. Not much has been going on lately. I have been sort of dealing with a bit of depression lately. I just don't know what I want to do with my life. I went on vacation from August 12-22 to Massachusetts and New Hampshire to visit family for 10 days. I really want to move there. But I also know that it's more expensive. I love the community feeling of living in a small town. And I don't know if it's the depression or something else but I really want to get out of the current city I'm living in.
So I've been looking at condos for sale in Florida. There are many for $20-30,000 which I think is great. Not only would the payments be affordable, but I could also pay it off sooner than 30 years. Of course with condos you also have HOA fees which are OK with me because many condo communities have pools and activity centers and I wouldn't have to worry about taking care of the yard work.
So a couple questions. First, if anyone has had experience with condos, what are the pros and cons? I have a cousin who has lived in apartments and condos and he just has problems with noise. Anything else besides noise issues?
Also, I still work at my part time job but it's only once a week if that. I was just miserable there and I'm trying to focus on getting my ebay business growing. The problem with being self-employed is that it's nearly impossible to get a mortgage. So, I would probably have to have my parents cosign with me if I wanted a condo in the next few months. Here's my other question. When you obtain a mortgage, do they ask you for your tax returns from previous years' or do they ask for pay stubs? I ask this because I think I would have a better shot getting a mortgage if they asked for tax returns instead of pay stubs.
Condos?
August 25th, 2010 at 08:44 pm
August 25th, 2010 at 09:01 pm 1282770072
The rather obvious question is: If you love the areas of MA/NH, do you really want to purchase something in FL? Why not save your money for a down payment on something in one of those areas, rather than moving into someplace you might not end up staying in?
If you feel that you are depressed, you might want to talk to your doctor about a referral for counseling. Or use the EPA through work.
August 25th, 2010 at 09:16 pm 1282770964
Generally, mortgage companies look at pay stubs.
August 25th, 2010 at 09:24 pm 1282771494
August 25th, 2010 at 09:26 pm 1282771585
August 26th, 2010 at 04:23 am 1282796583
We really liked condo living. We bought a condo for about $300k, because there just wasn't anything cheaper where we are from. The condo fees covered a lot of utilities, common ground, and nice facility. The place was a "steal" because really the land is expensive there. I probably wouldn't be much of a fan owning a condo in most areas. Was just unique because they are so valuable (like Manhattan, etc.). I am not convinced it would be a great investment, otherwise. You could pay it off, but would it ever appreciate like housing?
Our condo fees were reasonable when we lived there, but I see they have doubled in the last decade since we sold it - which is kind of crazy. I think there can be a fair amount of unpredictability with HOAs and potential assessments, or rising HOA fees.
All that said, we never had noise problems. We actually had an end unit in an older building, and I Was impressed with the sound situation. Never heard a peep from neighbors next door, or below us. Any newer building would tend to be quiet. It is amazing the sound proofing they do in modern apartments.
August 26th, 2010 at 07:42 am 1282808575
definately noise is a big issue. and whether or not your neighbours are nice. even buying a house is a big risk when you're not sure about the neighbours and with houses atleast you have a yard to separate you! i can't imagine only having walls or corridors separating you from someone you can't stand.
the area, obviously, and the view. might not seem like a big deal, but make sure you atleast look into it.
August 26th, 2010 at 07:44 am 1282808681
August 26th, 2010 at 11:44 am 1282823096
August 26th, 2010 at 02:48 pm 1282834092
My 29 year old daughter had $50,000 down and was able to, but even that was with a "no documents" loan and I don't believe they are doing that anymore. She had 2 years of tax returns showing very good income.
You are only 22. A lot of 22-year-old don't know what to do with their life. Heck I'm 52 and never really figured it out. I think you are pushing yourself too hard. Give yourself some time.
June 29th, 2018 at 10:12 am 1530267168
June 29th, 2018 at 06:45 pm 1530297922